Latent View Analytics IPO: The month of November is full of IPO launches. IPO launch for three companies already marked the beginning of this month while many others are slated in the subsequent days. If you too are planning to make profitable investments, you can invest in this upcoming IPO. Latent View Analytics, a data analytics services company, would be launching its IPO on November 10. Through this, the company would be listing its shares on the Bombay Stock Exchange and National Stock Exchange.
Check IPO Details here
The company had given information about the IPO launch on November 3. If you too have some savings, you can earn profits by investing them in the market. Let’s have a look at the details of this IPO.
Latent View Analytics IPO Details
- The IPO will open for subscription on November 10, 2021.
- Investors can bid for shares until November 12, 2021.
- Minimum amount to be invested in the IPO has been set at Rs. 14, 440.
- The price band offered has been fixed between Rs. 190 and Rs. 197.
- Investors need to bid for a minimum of one lot.
- Each lot contains 76 shares.
- The size of this IPO issue has been fixed at Rs. 600 crore.
- Investors can apply for a maximum of 13 lots.
Shares worth Rs. 474 crore to be released:
Shares worth Rs. 6 Crore have been reserved exclusively for company employees. Anchor investors could start placing their bids by November 9. Through this IPO, the company will issue new shares worth Rs. 474 crore. At the same time, shares worth Rs. 126 crore will also be issued through ‘offer for sale’.
Where would the money be used?
According to the company, the money raised through this IPO would be used for acquisitions for in-organic growth. In addition to this, funds would also be used to meet the working capital requirements of Latent View Analytics Corporation.
Existing major shareholders in this company:
Under ‘Offer for Sale’, promoter A. Viswanathan Venkataraman would be selling shares worth Rs. 60.14 crore, as reported by PTI. On the other hand, shareholder Ramesh Hariharan would be selling shares worth Rs. 35 crore and his co-shareholder Gopinath Koteshwaran would be selling shares worth Rs. 23.52 crore, under ‘Offer for Sale’. Venkataraman currently holds a 69.63% stake in the company whereas Koteshwaran owns 7.74% and Hariharan has 9.67% stakes in the company as per PTI.
Makes most of its turnover from U.S. markets:
The company makes most of its turnover, 92.88% to be precise, from the US markets. It also makes 1.85% of its turnover from the UK markets. The company’s total consolidated profit grew by 25.6% to Rs. 91.46 Crores in 2021.
About the company: The data analytics services company provides services to clients through its subsidiaries in the US, Europe (Netherlands, Germany, UK), and Asia (Singapore). The company has its sales offices in San Jose, London, and Singapore, from where the company operates.
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